Divi’s Lottery Blocks
by Geoff McCabe, co-founder of The Divi Project
One of the Divi Project’s most innovative features is what we call “Lottery Blocks.”
Once per week, lucky winners are chosen at random, and the winning funds will be deposited directly into their Smart Wallets.
To qualify, you must have an actively staking Divi wallet with a minimum of 10,000 DIVI in it, and win a stake during that week. Every time you win a stake, you get one lottery ticket.
The more you have staked, the more likely you are to win the lottery, because you’ll win more stakes.
Masternode wallets don’t qualify, because they aren’t staking.
- 504,000 DIVI is the total amount paid out each week
- 50% is allocated to a single bigger winner (252,000 DIVI)
- 5% is allocated to 10 secondary winners (25,200 DIVI)
If the value of DIVI grows, the lottery winning will grow too, possibly making it quite a large amount to win. For example, when DIVI reaches $0.10 then the winnings can be over US$50,000 worth of DIVI each week. For many people, this is a life-changing amount.
Each week the blockchain produces a “superblock” that has these extra awards in it. In our original whitepaper, we had planned to have block rewards of 1250 DIVI per block, with 50 of this added to a lottery block fund. However, we found it was simpler to reduced that to 1200. That means the missing 50 DIVI per block for a week adds up to 504,000 DIVI.
The goal with this is not just to reward our stakers, but to try to get more people to keep their DIVI in the network and support it with more staked wallets. Keeping DIVI staked and off the exchanges is better in many ways such as adding stability to our price, which is a major requirement for mass adoption of a cryptocurrency.
What if your DIVI is on an exchange? In this case you can’t win with those coins. Instead, the exchange may win, and would be unlike to give them to you.
Is it gambling? No, because although you need DIVI to participate, you don’t have to invest or risk anything to win. You’re automatically entered by winning stakes and therefore supporting the Divi network.
For more information, visit our website: www.diviproject.org